220k for 30 Yrs with 5% rate,
makes $1181.01 per month.
even with simple math,
you can not afford that price range.
1.extras..extras..
-when you buy a house, you’ll spend some money on
here and there. so if you have 10k for down payment.
you may not able to use as a down payment.
2.PMI
-do some search for PMI
-you can get away from this, but may not.
3.escrow
4.utility bills
-now, you need pay almost every single thing
from your house.
5.maintenance
-something broke?
no place to call and complaint about it.
you are the one who take care of it.
1 will affect your loan amount.
2, 3 and 4 will affect your monthly payment.
5 …sometimes cost couple of thousand dollars.
sometimes money can’t buy certain things.
if you have a child,
having a own home is priceless.
so..you ready to be a home owner?
good luck!
